March 11, 2020 / 6:17 AM / 19 days ago

Lanxess sees drop in 2020 core profit due to coronavirus impact

March 11 (Reuters) - German specialty chemicals maker Lanxess said it expected its core profit to drop in 2020 as the global coronavirus outbreak looks set to hurt its supply and delivery chains.

The company’s fourth-quarter core profit before exceptional items stood at 197 million euros ($223.52 million), slightly above the 185.8 million euros expected on average by analysts in a company-provided consensus.

Lanxess, whose products include construction pigments and engineering plastics, said it expects its 2020 earnings before interest, tax, depreciation and amortization (EBITDA) to come in at 0.90 billion euros to 1.0 billion euros, including an impact of the coronavirus epidemic between 50 million euros and 100 million euros for the year as a whole. It reported EBITDA of 1.019 billion euros before exceptional items for 2019. ($1 = 0.8814 euros) (Reporting by Zuzanna Szymanska in Gdansk; Additional reporting by Sarah Morland Editing by Tomasz Janowski)

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